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This allows large investors to place strain on Bitcoins cost in a way not seen before. In other words, the introduction of Bitcoin stocks on December 17th 2017 led largely in subdued returns to Bitcoin going forward.Moreover, together with so many Bitcoin ETF proposals submitted to the SEC this year we start seeing a trend that is somehow concerning for our Bitcoin price forecast. As said, a physical Bitcoin ETF was rejected in April of this year. On August 22nd the SEC decided to reject 9 more Bitcoin ETFs.
Every one these funds sought to utilize futures contracts to get exposure, with several planning to brief Bitcoin. The ruler had a hard-deadline to deny or approve all of these goods during the next month; their orders to list had been pending since December and January. Investors hopes for a Bitcoin ETF now rest on just one fund from VanEck Associates Corp..
The regulator that month pushed back a ruling on that product until at least September and may ultimately undergo February to make up its mind.What we see is an emphasis on non-physical Bitcoin ETFs. The ETFs that are submitted are mainly derivatives. They can go short, or are correlated to Bitcoin futures.
Bitcoin usageAs per the Bitcoin usage and adoption statistics on Statista.com the ownership of Bitcoin is still very low, slightly but not much higher than when we wrote 10 Investment strategies For Cryptocurrencies Investing 18 months ago.The 3 stats shown below, nevertheless without precise figures as thats only accessible for premium members, reveal that Bitcoin ownership was very low in the U.S.
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Adults planning on investing in Bitcoin is clearly a phenomenon for the younger generation which likely crypto a product of the electronic age.Moreover, when it comes to Bitcoin ATMs worldwide, we see a stagnation in the past couple of months. This is the first sign of stagnation. It suggests to us that the idea of using Bitcoin as a payment procedure is being challenged right now.
This, of course, is critical information for outside Bitcoin price prediction for 2019. Bitcoin as an investment a fantastic read is maturing, with futures being introduced already and other derivative products coming online in 2019 and beyond.Bitcoin adoption as a medium for transaction is not likely going to continue. Bitcoin does not have the mandatory features of a payment method.
The older generation is skeptical.That said, and according to InvestingHavens blockchain & crypto investing study, Bitcoin evolved early this season into the leading indicator for the crypto market. We started writing about this already in February, since the crypto crash was going on. Many crypto investors made a big mistake by focusing on the wrong indicators for the crypto market.
Nothing more, nothing less.Obviously, though that is true, it yields critical information for any crypto related investment, not only cryptocurrencies but also blockchain stocks.Our Bitcoin price forecast for 2019: $25,000With all the insights laid out in this article can we perform a Bitcoin price forecast for 2019 Yes, is the answer, and also our annotated long term Bitcoin price chart ought to help us with this.Below is the 4 year chart of Bitcoin.
Note that Bitcoin never dropped into its support band, implying there was still plenty of downside potential ahead of the long term bull market could be over. This certainly is not the way crypto investors felt about it, on the contrary.Bitcoin is now trending in its transition band, since May of this year.
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Arguably, when the next strong phase of momentum in crypto land begins, Bitcoin will proceed into its bullish band. However, with insights laid out in this guide we dont find Bitcoin going to its super bullish band though.Thats why people believe that it is quite realistic to anticipate $25,000 as a realistic Bitcoin price forecast for 2019, assuming the crypto crash is over.
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